Our Planet is Choking on Plastic
CTX launches ‘Plastic Fantastic’
Verra Plastic Credits to Trade on CTX
The headlines are screaming about this toxic problem, but just as the world begins to realise the dangers of plastic pollution and most people are trying to take action to reduce it, major industry players are poised to invest $billions in expanding plastic production. This relentless increase is poisoning our planet backed by the same nations and corporations creating the main causes of Climate Change. Over 99% of plastic is made from chemicals sourced from fossil fuels, and the fossil fuel and plastic industries are deeply connected. Now the trading solutions are finally appearing.
What is a Plastic Credit?
A Plastic Credit is a tradable unit that is issued to the developer of a plastic waste collection and/or recycling project. Plastic Credits can be purchased by a company or organisation, and the revenue from their sale supports the implementation, operation, and scaling up of the plastic waste collection and/or recycling project.
How are different plastic types and plastic waste collection & recycling activities credited? There are two types of credits collectively known as Plastic Credits. Once verified, projects that enable plastic to be collected from the environment may be issued Waste Collection Credits (WCCs), and projects that enable plastic to be recycled may be issued Waste Recycling Credits (WRCs). Each Plastic Credit represents one tonne of plastic waste that otherwise would not have been collected or recycled.
CTX members can buy or sell WCCs or WRCs from June 2024, using the exact same process and accounts as for Verra VCS Carbon. CTX members who do not hold a Verra Registry account can hit the ‘Buy to Retire’ button and let CTX handle the process for you.
How Big is the problem? What we now know is that the shale gas boom in the United States has been fuelling a massive build-out of plastic infrastructure in the US and beyond. In as little as five years, these investments could increase global plastic production capacity by 30%+, driving companies to produce ever greater volumes of plastic for years to come. This means the problem can rapidly become unmanageable, because when this plastic is produced (which seems almost unstoppable), plastics companies will find markets to consume it. Production will drive demand. This wave of investment increases pollution risks to frontline communities throughout the plastic supply chain and directly undermines efforts by cities, countries, and the global community to combat the growing plastic crisis. Our oceans and food chains are already infected. Between 1970 and 2000, worldwide plastic waste more than tripled. A report by Plastic Soup Foundation noted that over 50% of all plastics ever produced were made after the year 2000. Moreover, it has been estimated that over 400 million tonnes of plastic are produced ever year, and it is ending up in our food chain not wrapping it up, meaning its now its in your body and bloodstream.
Despite the ‘recycling’ commitments worldwide, only a fraction of the more than 400 million tons of plastic produced each year is recycled. Most of the waste ends up in landfills, rivers and the ocean, and this plastic waste has become a critical concern for many companies, governments, and especially consumers around the world. However, without new incentives, it will be challenging to scale up waste collection and recycling to the levels needed to reduce the use of virgin material and keep significant amounts of plastic from entering the environment, especially the world’s oceans. Hence, like the CTX Carbon Markets, plastics credits allow the transfer of funds from those who create the problem to those solving it.
The Verra Plastic Waste Reduction Standard is a program for consistent accounting and crediting of various plastic collection and recycling activities. It drives capital EcoFinance, for actions already taken, to support investment in projects that increase the collection and/or recycling of plastic waste. The program enables the independent auditing of projects to determine the extent to which they have reduced plastic waste. It issues credits based on the volume of plastic collected and/or recycled above baseline rates (i.e., what would have happened in the absence of the project activity). This “plastic crediting mechanism” provides an efficient and powerful means of financing activities that verifiably reduce plastic in the environment anywhere in the world. And thanks to CTX and Verra, this can form part of a Carbon and ESG offset program for all companies serious about ESG actions – not just future targets.
Minimum Carbon Listing Price Increase
As the Global Voluntary market re-awakens, CTX has made the decision to raise the minimum listing price to $0.60 (60 cents). It has been evident that the Hybrid ‘Token’ concept, which is the main product of most competitors, is a failure for all parties, especially the projects. CTX is unwilling to engage in a ‘race to the bottom’ as it is not sustainable for the exchange or the projects. We see tokens trading at ludicrous amounts that are less than Registry issuance fees for the underlying credits. Although CTX may be smaller than some competitors, it is profitable and has a business model that delivers benefits to buyers and sellers at the lowest feasible fees for a sustainable business for everyone. Buyers enjoy great prices, but CTX and its project developer clients must still be profitable, as CTX is and will remain so.
To maintain viability for smaller volume trades (100 tonnes minimum), we must raise the credit prices accordingly, effective from June 1st, 2024. So, for one week the lower prices are on the screen.
Thanks to feedback from some larger developers there, we have chosen to reverse the decision to impose an additional fee on UCR credits, but the minimum listing volume will be set at 2,000 credits, resulting in the removal of all micro listings.
New Credit Standard “CarbonPump” – Coming in June 2024
The challenges of the Australian Carbon Market have been numerous and, in some cases, crippling since sequential governments decided to make most of the market regulated, without imposing any lower limits on major emitters or the ETS they had planned over a decade ago. Now that CERs are no longer usable in the market other than as voluntary offsets (exclusively via CTX), the need for a local Voluntary Credit Standard other than Government controlled ACCU’s has been obvious to developers, especially farmers. The new emerging CarbonPump Standard and Registry looks like it is the right fit.
Their Climate Action Digital Receipts (CADRs) will be available for sale in June.
CTX has already had many requests from buyers, sellers, and brokers, and we expect prices to be mid-range with robust volumes. Like all CTX Credit Standards, buyers can use the ‘Buy to Retire’ button without needing a registry account.
CADRs are a digitised Carbon credit like any other: 1 CADR = to 1 Tonne CO2e that has been removed, sequestered, or avoided. This is NOT Crypto! They are retired as an offset in the same manner as other credits sold on CTX and will mostly be listed directly by the project owners.
Unique Registry Opportunities – International Carbon Registry Sale
Plus, Global Carbon Registry (GCR) Seeks Investors
Each of these is fully functional as a transactional Registry interfaced with Carbon Trade Exchange (CTX) for optional seamless electronic trading, 24/7/265 globally. Or as an Over the Counter (OTC) and Bilateral trade registry for nations. The GEM technology allows the owner/operators to control all the Registry Account holder fees and receive 100% of these fees or to have them deducted electronically from the CTX transaction proceeds. The Registries allow fully flexible fees for accounts, project registrations, credit issuance and activation, plus many additional labels such as SDGs and CORSIA, which can be easily applied with or without additional fees.
All GEM Registries can issue multiple credit types and Standards, including domestic or international voluntary credits and ITMOs. They can easily initiate or accept transfers or conversions of other credits to and from any international Registry. They can also be modified later to issue RECs and other environmental instruments. State-of-the-art technology, aligned with the re-developed Global Carbon Registry (GCR), which is now fully operational and seeking new investors, PoA for qualified Investors.
Unique Sale OFFER: despite approval from government departments, ministers and private enterprises, some nations have been unable to pay the GEM fees to purchase the license for this unique technology.
So, these are now for sale at a massively reduced price:
- Victoria Falls Carbon Registry
- Zimbabwe Carbon Credit Registry
Normally priced at US$350,000 these fully operational Registries can be rebranded for any nation or Credit Standard within 30 days. Reduced by 40% to $210,000 with rebranding included (if required) or only $175,000 for the current brands. All enquires via info@gemglobal.com
Global Carbon Registry® ITMO’s
Global Carbon Registry (GCR) is ready to accept ITMO projects with documents created for any Registry. GCR can now issue ITMOs in addition to Global Carbon Credits ® (GCC’s) for voluntary trading. It also has the ability to support National Carbon Sub-Registries at ultra-low costs to nations, which can utilise all of GCR unique and innovative features. GCR offers world-class Registry technology, top-end support, issuance Fees as low as 5 cents per credit for larger issuances, and no Transfer or Retirement fees.
For Nations Sub-Registries, GCR in partnership with CTX is now willing to offer a P.A.Y.G. model with issuance/activation fees deducted electronically from transaction proceeds (subject to trading agreements).
GCR will accept ITMO registrations with documents from any international Credit Standard including Verra VCS, Gold Standard, CDM, or BioCarbon. Additionally, we have CTX ITMO Auctions which are estimated to launch this summer. The GEM technology and all the contracts are ready, and Qualified buyers (budget $5 million+) or sellers (with approvals) can email their interest to Auctions@ctxglobal.com
CTX Listings – Another New Record in Buyer’s Paradise
Over 350 project listings, 7.5 million+ credits in 50 countries, and a market value over $15 million – across every type of project.
Prices range from 60 cents to $14.00.
Direct links to all the project documents in each Registry.
Plus, these amazing symbols to help select the credits you buy and/or build a portfolio for yourself or your clients:
Projects of The Month
BioCarbon Standard
Listed as ‘Forest’ – (3 SDG’s) & REDD+
Colombia (Latin America) – USD $11.00
High altitude ecosystems in the tropics known as Paramos are very singular and fragile providing an array of ecosystemic support including Forestry and water provision. Indigenous communities that inhabit this ecosystem work with project developers for implementation of protection activities to avoid and limit incompatible activities such as expansion of agricultural activities without an adequate compensation of the environmental impact. Local communities were not previously fully aware of the negative impact that the change in land use has on these ecosystems, neither of the sustainable practices to prevent it. This project funds the protection of this delicate ecosystem.
Thus, this climate change mitigation initiative prevents land use changes in paramos, peatlands, and wetlands, as well as deforestation and degradation of high Andean forests in ten departments of Colombia. This project also supports the recovery of degraded areas through ecological Forest restoration, thus contributing to the conservation of biodiversity and ensuring carbon storage above and below ground, as well as clean water management in strategic ecosystems. Paramuno began in 2017 and has enrolled 154 properties with 30,215 hectares aiming to enroll 60,000 hectares of private land by 2036. The estimated GHG emissions reductions are 69,302 tCO2 per year.
CDM UNFCCC
Waste Heat Recovery (4 SDG’s)
Asia (India) – USD $0.60 (make an offer for full volume)
112,148 listed vintage 2016-2019
The project covers a 4MW waste heat recovery-based power generation plant in an iron and steel manufacturing factory in the Chhattisgarh State, India. Without this project, power generation was done through fossil fuel (coal) energy, and waste heat/energy was let out into the atmosphere. This project achieves abatement of environmental pollution by utilization of the waste heat in a Waste Heat Recovery Boiler to generate steam to be utilized in Steam Turbo Generator for generation of 10 MW electricity which is used to meet the in house demands of the iron and steel complex, making it energy self-sufficient and environmentally more friendly.
The project activity has generated employment opportunities for commissioning, operation, and maintenance of the power plant in a rurally backward area. This has helped in improving the social status of the local people in and around the plant site as well as improved their professional skill.
The activities will result in emission reductions of around 48,951 tCO2 per year for a period of 10 years.
Gold Standard
Wind – (3 SDG’s)
Turkey (Asia) – EUR $5.00
The project achieves (GHG) emission reductions by utilizing wind resources for electricity generation through the construction of a wind farm with a total capacity of 90 MW in Çağlayancerit town in Kahramanmaraş, Turkey. This supports low-cost energy to a remote community with a very low socioeconomic profile.
Prior to the start of implementation of the project activity, electricity grid was dominated by mainly fossil fuels. The wind farm will contribute to reduce GHG in Turkey compared to the business-as usual, stimulate the growth of the wind power industry in Turkey; create local employment during the construction and the operation phase of the wind farm; reduce other pollutants resulting from power generation industry in Turkey; help to reduce Turkey’s increasing energy deficit; and reduce energy import dependency. The estimated emission reduction of the project activity is 101,437 tCO2 per year.
Buy Credits now
CTX Members – if you have any questions, please email operations@ctxglobal.com.
Thank you all for your contributions to help save the planet for our future generations.
